Securing financing is just one part of getting into a new home. Coldwell Banker Residential Brokerage is experienced at aiding new and experienced in all areas of real estate. Call me today at (303) 843-1545 if your needs include a real estate pro experienced at the business side of real estate.

Are you looking to finance or refinance your home?

Securing the loan is one of the most distressing elements of buying a home. But it doesn't have to be. I have excellent relationships with various lending companies in the Englewood area, and they've helped me understand some things that make the process of applying for a loan very easy.

1 – Create a list of questions about your loan program

If you find that you don't thoroughly understand the ins and outs of the various loan programs, be sure you have a list of questions with you. It is often a challenge to know the characteristics of both fixed and adjustable rate mortgages. One of my lender contacts or I can assist you in understanding the advantages and disadvantages of each.

2 – Decide when you want to lock

When you lock in an interest rate, a mortgage lender is guaranteed to hold to the mortgage interest rates for the loan – ordinarily at the time the loan application is sent in. By floating the rate, you can lock the rate anytime between the day of your loan application and issuance of closing documents. Those who opt to float presume that interest rates will fall in the near future. Click here to see the outlook for the next 90 days of interest rates.

3 – Decide if you want to pay additional points to decrease your rate

Typically you can choose to pay additional points to lower the interest rate of your loan. Every point is 1 percent of the mortgage loan and is payable in cash at the time of closing. If you're undecided as to whether or not buying points is right for you, click here to use my points calculator.

4 – Bring your paperwork

Getting a loan requires lots of paperwork, so you should spend some time getting all your documentation together. Click here to get a feel for typical questions you'll have to answer on a loan app.

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